How Much Does Auto Insurance Cost in Memphis?


Tennessee premiums fall below the national average by $112, which is why the state is known for its economical rates. However, premiums run higher in the city, so in Memphis, it is critical to save while insuring a vehicle. Review our tips to save on Memphis car insurance and save some hard-earned money.


AUTO INSURANCE RATES: MEMPHIS VS. US/STATE AVERAGES
City AverageState AverageNational Average
$1,659$1,315$1,427


Memphis Car Insurance by Gender and Marital Status


Several driver traits, including gender and marital status, can have an effect on auto insurance premiums in Memphis. Rates for those who are widowed are marginally cheaper than rates for those who are single. You spend $97 more per year if you're single or divorced as opposed to married. Premiums are cheaper for women, but barely. Women typically pay 1% less than men each year for insurance.


MEMPHIS AUTO INSURANCE RATES BY GENDER AND MARITAL STATUS
Marital Status/GenderAverage Rate
Female$1,642
Male$1,659
Single$1,659
Married$1,562
Divorced$1,659
Widowed$1,637


Memphis Car Insurance Costs by Age Bracket

Teenage drivers have the largest premiums of any age group, with car insurance payments of $7,267 on average. Everybody loves to save money, and luckily for drivers in their 50s, they do just that! They have the smallest car insurance premiums among any age group, with rates of $1,431/year. People in their 60s ($1,458) aren’t paying significantly more. The biggest decline in premiums for Memphis drivers happens when they hit their 20s. Once out of the teenage age range, drivers reduce their premiums by 68%. Insurance rates for drivers continue to fall through their 50s, but they can anticipate a change when they hit 60.


MEMPHIS AUTO INSURANCE PREMIUMS BY AGE
AgeAverage Rate
Teenagers$7,267
20s$2,308
30s$1,628
40s$1,506
50s$1,431
60s$1,458
70s$1,783


Memphis Car Insurance by Violation or Accident History


Possessing an unblemished driving history is important to keep the expense of insurance premiums low. Accidents happen, even to safe drivers, so be prepared and learn what one can do to your rates. If you are found at-fault in an accident in Memphis, expect your yearly car insurance premiums to grow by $623. In Memphis, drivers with a DUI need to spend $798 more than the city average to insure their vehicle. Reckless driving will push your rates up as well, with average rates of $2,377.


AVERAGE MEMPHIS INSURANCE RATES AFTER A VIOLATION OR ACCIDENT
Incident/ViolationAverage Insurance Rate
DUI$2,457
Reckless Driving$2,377
At-fault Accident (damages less than $1,000)$2,282
At-fault Accident (damages greater than $2,000)$2,282
Speeding Ticket (16-20 mph over speed limit)$1,974


Memphis Auto Insurance by Credit Score


Improving your credit can save you a good chunk of money. Those in the bottom credit tier (300-579) normally pay $2,027 more each year for car insurance than those in the top credit tier (800-850). In terms of percent change, shifting from Good (670-739) to Very Good (740-799) draws in the most significant percent drop in premiums, as drivers save nearly 21% per year.


MEMPHIS AUTO INSURANCE COSTS BY CREDIT LEVEL
CreditAverage Auto Insurance Rate
Very Poor$3,446
Fair$2,758
Good$2,210
Very Good$1,755
Exceptional$1,419


What drives up car insurance rates in Memphis?

Where you live in Memphis affects your car insurance rates. Besides your driving history and credit score, where you live is one of the biggest contributing factors to the car insurance rates you'll pay. The reason? Crime, theft and uninsured motorists vary by zip code. So if you find yourself in a neighborhood that doesn’t play well with others, car insurance companies may consider you a high risk to insure, meaning: your rates could be higher than those of a pal who lives just around the block. And, unfortunately Memphis is no exception to the rule. From zip code 38018 to 38116, premiums rise by 19 percent—that’s $263.

Expensive Memphis Zip Codes: 38105, 38107, 38106, 38126, 38116

Cheap Memphis Zip Codes: 38018, 38137, 38138, 38135, 38133

Memphis Driving Conditions

Inclement weather goes hand in hand with wet brakes, slick roads & decreased visibility.

And that's not the worst of it. Each year there are more than 700,000 weather-related car accidents. In Memphis, you can expect 108 rainy days with an annual rainfall of 53.7 inches. Memphis is also known to experience thunderstorms and tornadoes. You can check on the condition of the roads anytime here.

108

Rainy Days a Year

54"

Avg. Annual Rainfall

4"

Avg. Annual Snowfall

Be Prepared For

Driving in Memphis

2
Major Highways
I-40 I-55 I-240
2
Toll Roads
U.S. 36 Express Lane
2
Popular Day Trips
Meeman-Shelby Forest Holly Springs Ghost River

Find Local Memphis Agents

Smith-Berclair Insurance

855 Ridge Lake Blvd Memphis, TN 38120

The Carter Agency

12 N MCLEAN BLVD MEMPHIS, TN 38104

Farris Evans Ins.Agency

1568 Union Avenue Memphis, TN 38104

Lipscomb & Pitts Insurance

2670 Union Avenue Ext , Suite 200 Memphis, TN 38112

Fred L. Davis Insurance Agency

1374 Airways Blvd Memphis, TN 38114

Boshwit Brothers Mortgage Corp.

2595 Broad Avenue Memphis, TN 38112

Boyle Insurance Agency, Inc.

5900 Poplar Ave. Memphis, TN 38119

See All

Not sure about Memphis

Check out these other Tennessee cities...

Nashville

2

$1,498

The average Memphian's annual cost of coverage

2

40%

Our customer's average savings after comparing insurance

icon_coffee

240

That's equal to 240 cups of coffee or $599 in savings

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Recent Questions:

Memphis Car Insurance

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